Analyzing & Expanding Your Real Estate Business [Video]
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This is actually one of my favorite topics.
We all want more business and we all have certain sources that our business is already coming from. These are the things that you’re already good at. One of the resources that we offer our clients in our client resources area (and if you reach out to us we’d be happy to share with you) is a worksheet called, “Your Key Prospecting Sources.”
We ask our clients to set a goal and have five main sources of business. Think of it like a pie. You’re going to have five slices of where your business would come from. We have them take one worksheet for each source and then list the action steps that they would do or are doing in order to get business from that source.
Next, we have them list what it would cost for that lead source. Whose support they will need? What are some of the challenges they will encounter and what is the revenue they expect to achieve from that single source?
If you’re already working an area and doing well, let’s say for example working your database, when we’re coaching you what we’re going to challenge you do to is look at the action steps you’re already taking and then close the gaps. What are you missing that if you went just a little bit deeper or added one or two additional action steps to that particular source, you could squeeze that and extract more for business.
Our coaches are always going to begin there. Let’s say you have two or three areas that you use to generate business. The first step is to make you more efficient in those areas. Once those are fine tuned, now you can go on to discover the opportunities that you should be taking advantage of to fill in those additional sources that you need so that you have a steady stream of income.
The key to a stable real estate business is multiple streams of leads. When you have leads coming from many different directions this will create that stability in your business that relieves a lot of the stress that you may currently be feeling.
Let’s identify your five key sources. Take a look at what you’re doing in each source and just stop for a moment and say “How can I step up my game? What am I leaving on the table?” I know you’re going to find something and we’re anxious to talk to you about it.